Utilizing artificial intelligence in a seed round led by Inflection Point Ventures, Cognecto has secured an investment of Rs 4 crore.
According to a press release from Cognecto, the funds will be used to develop regenerative artificial intelligence technology that aims to offer beneficial business and operational insights for the mining and construction sectors.
The Bengaluru-based company is a deep-tech platform that uses edge devices that are IOT-based and runs analytics on the massive amounts of data it receives to offer business insights for heavy machinery. In particular, Cognecto specializes in offering managed services and analytics-based AI solutions for the construction sector.
In order to provide a comprehensive view of mining and construction operations, Cognecto, founded in 2020, connects frontline workers and equipment on a single platform. This enables businesses to produce useful analytics. Additionally, the platform provides specialized knowledge and key performance indicators (KPIs) that are industry-specific.
Cognecto asserts to be present on all seven continents, including Asia, Europe, Australia, and Africa. It provides services to a number of heavy industries, including mining, aluminum, transportation, and logistics.
